Rental Property Investor · Katy, TX · Member since 2015 · 49 posts · 10 votes
Hello everyone,
I'm seeking advice/guidance on good strategies you guys/girls have used to successfully find investor friendly real estate agents.
And when finding them, and working with them for rehabs, can you share what kind of agreements you make with them to compensate for their work when helping with the acquisition of properties found outside the MLS, considering that they will take advantage of regular realtor's compensation when the property is sold?
I am looking for investor friendly realtors in the Houston area and can use some advice/guidance from my fellow successful investors and realtors in this area who would like to share their experience working with invesors.
Investor · Orlando · Member since 2016 · 151 posts · 72 votes
9y
I also had to tackle this challenge, and I think I've figured it out with one simple question:
"How many investment units do you have?"
I wish I knew this earlier because it really cuts to the chase and would have saved me time and money on my first couple of deals.. Do not listen to excuses. I had one realtor tell me they didn't because of 'bankruptcy issues'. Uh no, not for me.
Investor-friendly means you can help because you've walked in our shoes. Accept nothing less.
Investor · Cypress, TX · Member since 2016 · 170 posts · 139 votes
9y
@Tatiana C. Learn to challenge realtors and know what questions to ask them. The easiest thing a realtor can do for you is to provide you with accurate comp sales and rentals for a property you are doing an analysis for. I see deals everyday and the most common complaint I have is that the person presenting the deal has inaccurate comp sales and rentals for the property. The next thing I see is that repairs are usually understated. I'm not sure how realistic it is to expect a realtor to be able to help with that (repair values) but having accurate comp sales and rentals for a property is paramount to establishing a property's value and well within reasonable expectations.
I look back 6 months (no more) and look at what has sold and also what is listed for sale (both sales and rentals). Those are very easy reports for any realtor to run.
Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
9y
@Tatiana C. have you gone to any of your local meetups? I am an investor, and I am constantly networking at several local meetups around the Chicago area. I would guess that your best bet for a local realtor will be looking to meet you at a networking event!
Thank you John. I've been going to meet ups. I've talked to many realtors but I seem to mostly meet realtors who are just starting up as investors' supporters. I'm hoping to get more ideias here on finding and assessing realtors who can really help rehabbes with their support.
But your advice alerts mento the fact that I need to network more, I really appreciate your help.
Investor · Orlando · Member since 2016 · 151 posts · 72 votes
9y
I also had to tackle this challenge, and I think I've figured it out with one simple question:
"How many investment units do you have?"
I wish I knew this earlier because it really cuts to the chase and would have saved me time and money on my first couple of deals.. Do not listen to excuses. I had one realtor tell me they didn't because of 'bankruptcy issues'. Uh no, not for me.
Investor-friendly means you can help because you've walked in our shoes. Accept nothing less.
Thank you Brian, appreciate you taking the time and providing feedback. You are so right, good comps are key in this business and I'll keep that in mind when assessing their support.